Riyadh [Saudi Arabia], September 29 (ANI): Sahm Capital Financial Company (“Sahm Capital”) supported The Financial Market Innovation Hackathon as a strategic partner. Organized by The Financial Academy in collaboration with the Capital Market Authority (CMA), the initiative brought together emerging talent to foster innovation and develop solutions for the Saudi capital market.
More than 500 applicants applied to this initiative, with 60 participants selected to form 12 multidisciplinary teams spanning finance, data science, design and technology. Between 6 and 10 September, the teams worked on defining problems, validating market fit and developing business models, with support from mentoring and coaching sessions. Six teams advanced to the final round, held on 16 September at Money20/20 Middle East in Riyadh.
As a strategic partner, Sahm Capital contributed its financial industry expertise to the program, and two Sahm Capital representatives served on the judging panel alongside industry experts and specialists to evaluate the finalist teams and their proposed solutions.
Steven Chou, Chairman of Sahm Capital, said, "A strong financial market depends not only on technology and capital, but also on people who understand market needs and can turn ideas into practical solutions. We are pleased to support an initiative that brings together emerging talent, financial-market expertise and technology to explore real challenges in Saudi Arabia’s financial market."
He added, "Developing the next generation of financial talent is an important part of building a more innovative and dynamic financial sector. By creating opportunities for young professionals to engage with industry specialists and develop their ideas, initiatives like this can help foster a stronger culture of innovation across the capital market."
The six finalist teams presented their solutions during the final round at Money20/20 Middle East. Following the judging panel's evaluation, Team Idraj secured first place, Team Hawkamtek took second place and Team Floc finished third.
Mana bin Mohammed Al-Khamsan, CEO of The Financial Academy, said, "The hackathon provided participants with a practical environment to apply financial and technical expertise to real challenges in the Saudi capital market. By bringing together promising talent and industry expertise, this initiative supports the development of national capabilities and promotes practical innovation across the financial sector."
Sahm Capital, registered in Riyadh, holds full regulatory licenses from the Capital Market Authority (CMA) to conduct Dealing, Advising, Custody, Arranging, Managing Investments and Operating Funds Activities in the Securities Business (License No. 22251-25).
Sahm Capital leverages proprietary technology and financial solutions to provide investment services across Saudi and U.S. markets and support the evolving needs of investors.
The Financial Academy (TFA) is an entity with an independent, legal and administrative status. It is organizationally located under the Chairman of the Board of the Capital Market Authority (CMA). The Academy is dedicated to qualifying the financial sector’s human capital, including senior managers and board members, by advancing their knowledge, capabilities, skills and culture. TFA also develops and promotes best professional financial practices, targeting all components of the financial services sector including banking, finance, insurance and capital market. (ANI)
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Sahm Capital supports Saudi financial market Innovation Hackathon through strategic partnership with The Financial Academy
